DailyFinance.comhttp://www.dailyfinance.comDailyFinance.comhttp://o.aolcdn.com/os/df/2013/img/2-dailyfinance_logo_m.pngDailyFinance.comhttp://www.dailyfinance.comen-usCopyright 2015 Weblogs, Inc. The contents of this feed are available for non-commercial use only.Blogsmith http://www.blogsmith.com/Paging Book Lovers: Dedicated Authors Keep Libraries Afloathttp://www.dailyfinance.com/2011/03/06/dedicated-authors-keep-libraries-afloat/http://www.dailyfinance.com/2011/03/06/dedicated-authors-keep-libraries-afloat/http://www.dailyfinance.com/2011/03/06/dedicated-authors-keep-libraries-afloat/#commentsFiled under: Media, Books, Economy, PeopleFor public libraries, it could be the best of times, but it's increasingly looking like the worst of times. The good news is that they seem to be staging a major comeback, with usage numbers sharply rising across the country. On the other side of the ledger, however, library funding is being slashed, staffs are being cut, and doors are being closed.

In Detroit, the public library system recently announced it will lay off more than 80 employees -- 20% of the library's staff -- because of a growing financial crisis. Administrators will take 10% pay cuts, and the library is considering branch closures to cope with a dwindling budget.

In nearby Troy, the public library will close its doors on April 30. Historically an affluent suburban city, Troy has "faced the double whammy of the economic downturn in the Detroit area as well as a defeat by voters in February [2010] of a property tax millage."

New Patrons, New Responsibilities

Across the country, libraries large and small are experiencing a similar financial squeeze. But at the same time, patrons are becoming increasingly reliant on libraries as other government services have been cut. For people who need help with finding tax forms online, applying for benefits and accessing social services, libraries have helped mitigate the reduction in civil servants.

At the same time, unemployed workers can use library computers to submit job applications over the Internet, and entrepreneurs can use their resources to research opening their own businesses. Libraries continue to fulfill their more basic functions, making costly manuals and other resources available to mechanics and other professionals.

Then there's always the traditional library responsibility of providing educational resources. For the majority of children living in rural areas, New York Times bestselling thriller author and long-time library advocate Karin Slaughter says, "The library offers their only access to books and the Internet outside of the schoolroom. For many urban kids, the only safe haven they have to study or do homework is the public library. And, believe it or not, there are still children whose highlight of the week is that trip to the library. It was true when I was a kid, and it's doubly true now: The library is the beating heart of any community."

One Author's Solution

To help generate financial support for public libraries, Slaughter is spearheading a fund-raising initiative, Save The Libraries, whose pilot event will benefit the DeKalb (Georgia) County Public Library system. With support from the International Thriller Writers, an honorary society of fiction and nonfiction thriller authors, Slaughter will host a cocktail party and mystery theater performance on March 12. Authors Kathryn Stockett, writer of The Help, and Mary Kay Andrews, author of 10 critically acclaimed bestselling novels, will also be involved.

In addition to the ticketed event, an online auction on March 1-12 will expand the fund-raiser's reach beyond the Atlanta area. "Computers will be set up at the library," Slaughter explains, "and the bidding will take place in real time. This means that someone from Decatur, Ga., might be bidding against a writer in Bulgaria to have their script read by my film agent in Los Angeles."

Additional auction items include drinks and appetizers with Mary Kay Andrews for up to a dozen readers at Decatur's Feast restaurant; signed books by Lisa Scottoline, Joseph Wambaugh, Iris Johansen, Neil Gaiman, Michael Connelly and Christopher Moore; a trip to New York to lunch with Slaughter's literary agent; and a manuscript critique from Slaughter's U.K. editor. Administrative and marketing costs have been underwritten by sponsors, so funds raised will directly benefit the library.

Writing the Manual for Saving Libraries

"More important than just this one event," Slaughter says, "is the repeatability we've built into the Save The Libraries program. We are documenting every step -- and misstep -- so far in our journey to build a successful fund-raiser. Eventually, we will combine all of these components into an 'event in a box' packet that will act as a template for future fund-raisers." The ultimate goal is to enable libraries to hold similar events with a minimal amount of staff planning time and administrative investment. A second planned event to benefit the Boston Public Library system will help fine-tune the process.

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Eventually, Save The Libraries hopes to hold a nationwide raffle in which the International Thriller Writers will invite library systems from all four corners of the continental U.S. to submit a proposal for a fund-raiser event. One system will then be chosen from each quadrant, and the International Thriller Writers will send, at no expense to the library, at least four New York Times bestselling authors to help the library system raise much-needed funds. Dennis Lehane, Linda Fairstein, Joseph Finder, Douglas Preston, Lisa Gardner and Tess Gerritsen have all agreed to participate.

"As a lasting legacy," Slaughter says, "there is nothing more important we can do than to make sure everyone has free and open access to reading. Whether it's celebrating banned-book week or risking jail time in support of reader privacy, librarians have always stood up for the rights of writers. It's time that we stood up for them."

As for the March 12 DeKalb Library fund-raiser, Slaughter summarizes: "I'm hoping we have a nice, round figure at the end of this that will entice other libraries to get excited about the International Thriller Writers doing something with their library system."

Because when it comes to raising funds for libraries, it really is all about the money.

Karen Dionne is the internationally published author the environmental thrillers Freezing PointandBoiling Point. Karen is also the cofounder of Backspace, and serves on the board of directors of the International Thriller Writers. Visit Red Room to find out more about her books and to read her blog.

]]>budget cutshomeworkKaren DionnelibrarianlibrarieslibraryreadingRed_RoomKaren DionneSun, 06 Mar 2011 10:00:00 ESTBidding for Authors: When Books Sell at Auctionhttp://www.dailyfinance.com/2011/02/19/bidding-for-authors-when-books-sell-at-auction/http://www.dailyfinance.com/2011/02/19/bidding-for-authors-when-books-sell-at-auction/http://www.dailyfinance.com/2011/02/19/bidding-for-authors-when-books-sell-at-auction/#commentsFiled under: Media, Books, PeopleNot long after US Airways Captain Chesley "Sully" Sullenberger dramatically landed Flight 1549 in the Hudson River, his memoir sold at auction to publishing house William Morrow for between $2.5 million and $3.2 million. In another auction, Tina Fey's book of humorous essays went for $5.5 million to $6 million, while former President Jimmy Carter's White House diaries sold for "around $1 million" according to underbidders.

To those outside the publishing industry, numbers like these suggest that book auctions are as rare as a solar eclipse. In fact, they're more like beautiful sunrises -- always nice to see, but occurring with remarkable regularity. For a book to go to auction, all that's required is for two or more publishers to want to purchase it.

Scott Hoffman, one of the founding partners of Folio Literary Management, explains why book auctions take place on a daily basis: "Publishers continue to put more and more emphasis on what an author brings to the table in terms of marketing ability. As a result, big-platform clients are in increasingly high demand, and often attract offers from multiple publishers."

Auctions are much more common for nonfiction projects than for fiction. Says Hoffman: "The decision to publish nonfiction is a more left-brain, numbers-driven process than the decision to publish novels, which are largely based on personal taste and the very subjective concept of artistic merit."

How Book Auctions Work

"Book auctions always create excitement because an auction means that more than one editor loves the project," says Kristin Nelson, of the Nelson Literary Agency. However, just because a book goes to auction doesn't mean it will sell for a large amount; as Nelson notes, "I've certainly held auctions for multi-book projects that have gone for seven figures. I've also had auctions where the sum didn't quite reach six figures. It all depends on the level of enthusiasm from the publishing houses."

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When a project goes to auction, agents select a convenient date for all involved and establish the rules. Most auctions are conducted as round-robins by the agent. After the initial bids are received from interested editors by phone, fax, or e-mail, the lowest bidder is given the opportunity to outbid the highest. Then it's the next-lowest bidder's turn, and the auction proceeds in this manner until one bid stands and the auction ends.

"The round-robin format tends to work best when there are three or more editors involved," says Nelson. "If the agent is concerned that only two editors will show, it's usually best to go the route of best bids." In this scenario, editors submit their most attractive offers up front, which can include not only advances, but generous marketing packages and other perks. If the differences between offers are slight, a best bids auction might go to a second round, but generally, this type of auction finishes relatively quickly.

Occasionally, one publisher is so eager to acquire a project, it'll make a preemptive offer in the hope of taking the project off the table. If the offer is considerably more attractive than any others, after a minimal amount of negotiating, the deal will be closed without an auction taking place.

Auction Day

"Auctions tend to unfold quickly," says Nelson. "Editors let the agent know they're taking the project for second reads or to the editorial board within a week or so of receiving the manuscript."

Prior to the auction, the author will talk with each interested editor by phone. Marie Lu, a Nelson Agency client whose young adult dystopian trilogy sold last fall for upwards of $500,000 according to the Publishers Marketplace reporting code, says the pre-auction phone calls "may have been the most exciting part of the process. . . . To hear industry professionals rave about your manuscript is amazing." For authors, the time before an auction is also a period of intense anxiety. Says Lu: "I alternated every few minutes between absolute joy and sheer, abject terror."

As the auction unfolds, the agent calls the author with updates, but for the most part, there's nothing for the author to do but wait until the bidding is over -- sometimes hours, sometimes days. At that point, the agent reports in with the results, and the author makes the final decision.

Why Overbidding Is Bad

Somewhat surprisingly, the publisher that the author selects isn't always the one that puts the most money on the table. "We always reserve the right to consider all factors, not just the amount of the advance, in case the author wants to go with a certain editor rather than with the highest bidder," says Nelson. Deciding factors include a better marketing campaign for the book, whether or not the publisher envisions the book as a lead title, the publisher's level of enthusiasm and commitment for the project, royalty rates and which subrights will be included in the deal.

Occasionally, publishers get caught up in the excitement of the auction process and overbid. While this scenario might seem like a happy outcome for the lucky author, if a book sells for too high a price, it risks being labeled within the publishing house as the book for which the publisher overpaid. When that happens, the book may be written off as a loss even before it's published, making it much more difficult for the editor who acquired the project to generate enthusiasm for the book from the sales and marketing teams.

Fortunately, such instances are rare. "For the author," says Nelson, "an auction is the best of all worlds. A bit nerve-wracking while it unfolds, but in the end, they will be with a house and an editor who is wild about his or her book."

Karen Dionne is the internationally published author the environmental thrillers Freezing PointandBoiling Point. Karen is also the cofounder of Backspace, and serves on the board of directors of the International Thriller Writers. Visit Red Room to find out more about her books and to read her blog.

]]>auctionbookschesley sully sullenbergereditorsJimmy CartermarketingPublishingpublishing industryRed_RoomTina FeyKaren DionneSat, 19 Feb 2011 09:00:00 ESTA Bankrupt Borders Makes Everyone Poorer, Especially Authorshttp://www.dailyfinance.com/2011/02/17/bankrupt-borders-makes-everyone-poorer-especially-authors/http://www.dailyfinance.com/2011/02/17/bankrupt-borders-makes-everyone-poorer-especially-authors/http://www.dailyfinance.com/2011/02/17/bankrupt-borders-makes-everyone-poorer-especially-authors/#commentsFiled under: Company News, Media, Real Estate, Books, Market News, InvestingIt's official: Borders, the nation's second-largest bookstore chain, has filed for bankruptcy protection. The announcement that came this week has been expected since the end of last year, when Borders first shocked the publishing industry by halting payments to publishers and distributors. Borders will close 200 of its 600 "superstores". Beginning as early as the end of the week, 6,000 employees will be out work -- hard news to hear in a difficult economy.

Borders' bankruptcy filing also means publishers are now on the hook for hundreds of millions of dollars. My publisher, Penguin Group (USA) (PSO), is the hardest hit at $41.1 million. Others with more than $10 million at stake include Hachette, which is owed $36.9 million; Simon & Schuster (CBS) at $33.8 million; Random House at $33.5 million; HarperCollins (NWS) at $25.8 million; Macmillan, at $11.4 million; and Wiley (JW.A) at $11.2 million.

The list of publishers left holding bad Borders' debt goes on and on. While Borders expects to be able to pay vendors for merchandise shipped after the bankruptcy filing, those that were owed money prior to the filing will be paid only with the approval of the bankruptcy court.

Fewer Places for Authors to Sell

As part of the bankruptcy proceedings, Borders has implemented an ordering freeze. In response, the book distributor Ingram has stopped shipments to Borders stores. For hundreds of authors whose books are about to release, the consequences are severe. Their books will be carried in 200 fewer Borders stores, and unless the shipping impasse is resolved, no copies will be shipped to any of the remaining 400 Borders retail outlets.

Until Borders can provide assurances that it will be able to pay for future stock, the situation will likely continue. According to a report from Publishers Marketplace:

The next big question for Borders is whether -- and/or under what conditions -- major publishers will ship the chain new inventory. The bookseller is offering "normal trade terms" under their DIP [debtor in possession] financing, but publishers may require cash up-front, or may be reluctant to resume significant shipments entirely. Publishers we contacted this morning were still consulting with their attorneys and management. At least one large company expressed the skepticism that has prevailed during Borders' slow march to bankruptcy since late December, saying they have not seen any proposal in writing from Borders yet, '"so resupply in the near future seems highly unlikely."

Writers hit hardest by Borders' troubles are the so-called "midlist authors" -- those whose books aren't bestsellers but still do well enough economically to justify their publication. BPM Smith, a reporter who covers the book and music industry, explains:

The biggest fallout could come weeks or months down the line, because all those publishers Borders owes money to will get perhaps only 10%-20% of what they're owed. That's also potentially a bad sign for their authors. I've covered bankruptcies that later resulted in firms going under themselves after a major supplier or customer went bankrupt. How do these publishers make up for the millions of dollars they won't be able to replace? Invariably, when a firm goes bankrupt, the non-guaranteed debtors are the ones who take a haircut.

Even if publishers turn the supply tap back on, midlist authors are still at risk. According to an employee who works in the sales department of a publishing house, "Borders will likely be even more cautious about investing in midlist authors. While their new loans from GE Capital will allow them to finance, among other things, the purchase of new stock, Borders is not in any position to gamble. They're likely, in my opinion, to skip more midlist titles than usual and to only spend their money on names they know they can sell."

Smaller Advances, Fewer Authors

If Borders orders significantly fewer midlist titles, "It's entirely possible that publishers may offer lower advances [to authors], especially on midlist titles," says the same publishing house employee. "The industry has depended on Borders as a major market for new titles. If the publisher can't trust Borders to take a sufficiently large number of copies of a given title, this will factor into their profit and loss statements. As a result, they may advance less money to authors in order to increase the odds that any given acquired title will earn out [the advance]."

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Or some publishers may just drop their midlist authors. The blockbuster mentality in which publishers concentrate their marketing and promotion on the books they perceive as guaranteed sellers has long made the midlist author's life difficult. The additional financial burden imposed on publishers by Borders bankruptcy may well be the tipping point for many writers whose sales numbers are less than stellar.

It's an understandable strategy in difficult financial times. But books are so much more than a product. Books help us gain insight or perspectives on issues that matter. They allow us to escape reality and delve into stories or worlds unknown. They inspire us, educate us, change us. Their variety enriches both our culture and our lives.

Karen Dionne is the internationally published author the environmental thrillers Freezing PointandBoiling Point. Karen is also the cofounder of Backspace, and serves on the board of directors of the International Thriller Writers. Visit Red Room to find out more about her books and to read her blog.

]]>authorbook publishingBorders bankruptcyborders booksColumnsHachette Book GroupharpercollinsmacmillanPenguin GroupPublishingsimon and schusterwileyKaren DionneThu, 17 Feb 2011 09:00:00 ESTLiterary Speed Dating: How Not to Find an Agent for Your Bookhttp://www.dailyfinance.com/2011/02/13/literary-speed-dating-how-not-to-find-an-agent-for-your-book/http://www.dailyfinance.com/2011/02/13/literary-speed-dating-how-not-to-find-an-agent-for-your-book/http://www.dailyfinance.com/2011/02/13/literary-speed-dating-how-not-to-find-an-agent-for-your-book/#commentsFiled under: Media, Careers, Books, People Pitch sessions are a staple at most writers conferences, offering authors the opportunity to sit down face-to-face with a literary agents to talk about their projects. Some conferences pair writers and agents for ten minutes of one-on-one time, often for an additional fee. At one popular event, authors can book up to three such sessions for an extra $40 each.

Other conferences use the "pitch-slam," or "speed-dating" format to connect authors with agents. Several dozen literary agents are seated in a large room, while authors stand in line for the chance to make a 3-minute pitch to one agent before moving on to the next.

Enticed by the prospect of meeting 30 or 40 literary agents in a single day, hopeful authors spend hundreds of dollars to attend. Because such conferences attract large crowds of registrants, it's easy to see why organizers love pitch sessions. Authors, however, often find them to be tense, angst-filled meetings in which only the most confident can easily put their best foot forward.

Stressful for Authors and Agents

"On several occasions at conferences," says Folio Literary Management's Jeff Kleinman, "someone sits down across from me, we introduce ourselves, and then the writer on the other side of the table bursts into tears. It's a truly weird and horrible feeling to be sitting there watching a grown woman, carefully made up, sobbing into a wad of typescript."

"Being pitched face-to-face is hard for authors and agents," another agent agrees. "I know agents who request at least a sample chapter or two from everyone, simply because the agent finds it easier to say 'yes' than to say 'no' in a face-to-face meeting with an author. I guess I'm not so nice, because I say 'no' a lot -- especially when they're pitching me for something I don't handle. When that happens, I'm not only going to turn down that author, I might even be grouchy about it."

Pitch sessions are not only stressful; many question their value. Says author Teresa Hayden: "The absolute most an unpublished novelist can get out of a pitch session is to be told to go ahead and send the manuscript -- an outcome that's hard to distinguish from the normal submission process."

Forms of Rejections

"Most agents are too polite to say 'no' to your face," Scott Hoffman of Folio admits. "You can pitch them a book that they know -- 100% know -- they would never in a million years sign up. But rather than deal with the pressure of rejecting you to your face, they'll say something like 'Well, I don't know. For something like this, it's all in the writing.' They'll ask you to mail them the first three chapters, and then they'll glance at them for about five seconds and then pass, politely, with their standard rejection letter."

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Reports one author, "The one time I pitched a novel, the person I pitched to asked me to send exactly the same package I would have sent as an unsolicited submission. Once I stopped congratulating myself for not fainting, farting or collapsing on the floor in a puddle of flop sweat, I realized that the only thing I'd done was risk being turned down for what I said about the book rather than the book itself."

When my business partner, Christopher Graham, and I organized the first Backspace Writers Conference in 2005, we scheduled formal pitch sessions for conference registrants. However, we soon discovered that this yielded a line of waiting authors who looked like they were about to undergo root canals, and a passel of agents who complained about how much they disliked pitch sessions. We vowed to find a better way.

Workshops Vs. Pitch Sessions

The next year, we offered "Skip the Pitch" sessions: small-group workshops in which agents made comments on authors' opening pages in a relaxed, informal setting. Authors got individual feedback, and by listening to the agents' comments on the other' materials, they came away with a better sense of what worked and what didn't. Many were asked to submit their projects, and a few signed with agents. And because these were workshops, and not pitch sessions, the authors whose work was not as ready as they'd hoped could go home, make the changes that resonated, and submit a stronger project to these same agents later.

This workshop format has become a regular feature at our conferences ever since. Agents have a wealth of experience and knowledge about the industry that aspiring authors are hoping to enter. When authors stop talking and start listening, they learn what they need to know to reach their publishing goals.

Hoffman's conference experience supports this and similar no-pitch formats. "In the past three years," he says, "I've sold about 10 books from people I met at conferences. Not one of those authors did I meet at a one-on-one pitch session. So, how did those authors get to me? After my workshop. In the elevator. In the bar after dinner. Basically, in normal, organic situations that aren't terribly forced like those awful one-on-one pitch sessions."

Pitch sessions have the potential to generate tens of thousands of dollars for conference organizers. But more and more are just saying "no." They believe the authors who invest time and money to attend deserve more than a few stressful minutes with a bored, exhausted -- and quite possibly grouchy -- agent.

Karen Dionne is the internationally published author the environmental thrillers Freezing PointandBoiling Point. Karen is also the cofounder of Backspace, and serves on the board of directors of the International Thriller Writers. Visit Red Room to find out more about her books and to read her blog.

]]>agentsbooksfinding an agentgetting publishedhow to sell a bookKaren Dionneliterary agencyliterary agentspitch sessionsselling a bookwriterswriters conferencesKaren DionneSun, 13 Feb 2011 09:00:00 ESTForeign Rights: How Authors Tap a Rich Vein of Royaltieshttp://www.dailyfinance.com/2011/01/30/foreign-rights-how-authors-tap-a-rich-vein-of-royalties/http://www.dailyfinance.com/2011/01/30/foreign-rights-how-authors-tap-a-rich-vein-of-royalties/http://www.dailyfinance.com/2011/01/30/foreign-rights-how-authors-tap-a-rich-vein-of-royalties/#commentsFiled under: Media, Books, PeopleDespite ever-increasing caution on the part of the book industry, publishing a book has never been easier. Between the recent explosion of e-reading devices, generous royalty rates from online retailers and enticing tales of six-figure incomes, self-publishing is becoming an attractive option for many aspiring authors.

Frustrated by the slow, conservative pace of traditional publishing, writers are abandoning their agent search in droves to stride out into the Brave New Publishing World.

But as they weigh the financial pros and cons of self-publishing, there's one potentially lucrative market that do-it-yourselfers often overlook: foreign rights sales. The right to translate and sell a book in another country falls under the umbrella of subrights, which include film, merchandising, audio and other e-related rights, such as electronic, electronic version, enhanced e-book and multimedia.

While the resulting books and products can bring a great deal of money and visibility, this vein of gold is generally available only to traditionally published authors because foreign rights sales necessitate either a publisher with a foreign rights department, or a foreign rights agent who has detailed and specialized knowledge. For most self-published authors, determining what kind of books sell best in which countries, which publishers are most reputable and which contractual terms are reasonable is exceedingly difficult.

Finding Great Deals on Foreign Shores

"Foreign rights sales and royalties are one of the best deals a writer can get. I look at it as free money because I get paid to do nothing," says Joe Moore, a bestselling thriller author whose novels are published in more than 20 languages. "Selling the rights to a Lithuanian publisher might only generate an advance of a few hundred dollars, but a publisher in Italy or the Netherlands might pay tens of thousands up front for the same book."

U.K. novelist Eliza Graham agrees. "Good foreign rights deals can be like Santa coming back again on Christmas Eve with another stocking for you. My German rights deal has earned me several times more than my books have earned in my home territory of the U.K." But while the big deals can lead to lots of money, Graham notes that "Even smaller deals can make a big difference to an author's finances and profile. And you don't have to write a single new sentence."

As Moore and Graham demonstrate, royalties can greatly vary from country to country, which makes it important to know what kinds of books will sell in each area. One prominent literary agency, Folio Literary Management has an active foreign rights department that does hundreds of deals for their clients every year. "We're constantly meeting with editors from all over the world," says agent Molly Jaffa, "and we also attend the three major international book fairs. On a daily basis, I'm emailing with agents and editors from places as far-flung as Turkey, Romania, Italy and Brazil to discuss deals and work out contracts."

In addition to her extensive contacts, Jaffa also brings a great deal of knowledge to the table: "I have to be familiar with all of our clients' books, because when a foreign editor comes to town, it's my responsibility to know what genres are working in his or her country and how to pitch the best matches from the hundreds of books on Folio's list."

The Best Country for Each Book

Celeste Fine, senior vice president and director of subsidiary rights at Folio, says: "Every time we sell a book in the U.S., we discuss the book's potential in foreign markets. For instance, a business or science book has tremendous potential in Asia. Ten years ago, Japan was a major market, with sizable advances and consistent acquisitions. Today, Japan's economic situation has made it a less active territory, and we look to Korea to acquire books early with strong advances."

On the other hand, while some books travel well across borders, Fine notes that other things can be lost in translation: "While celebrity and television tie-ins do incredibly well in the U.S., they are harder to sell abroad unless the figure has a major global presence.

It doesn't help that readers are tightening belts around the globe. As fine notes, "Literary fiction does well in France. Italy is good for women's fiction, but they, too, have been hit hard by the economy." In other other countries, however, readers and publishers are still eager to open their wallets for promising titles: "Brazil loves dogs and inspirational books, and they have been buying early and aren't shy about six-figure advances for the right book. Turkey has also been doing well. Basically, look at the country's economy, and you can tell how publishing is doing."

E-rights abroad are not yet a factor, because the Kindle and other e-readers are either not available, or not yet popular in many foreign markets. "It's like 2007 when it comes to e-rights," Fine says. "Yes, they exist, but they aren't paid much mind."

The Downside. . .And the Up

Foreign rights sales can be complicated by the fluctuating currency exchange. "When my debut thriller was bought by Bantam UK, the Canadian dollar was low and the British pound was high," explains Canadian author Grant McKenzie. "Then the Canadian dollar began to climb, while the pound and euro faltered. When I received the second half of my advance upon publication 12 months later, it was considerably lower. My second book was purchased for the same amount as my first, but the new exchange rate meant I was actually making between $10,000 to $15,000 less -- a significant amount when you consider how little most first-time authors make."

But for most authors, the advantages of foreign sales far outweigh any drawbacks. And for authors exhausted by the seemingly endless book signings, interviews, blog tours and other nonwriting activities that have become an essential part of book promotion, foreign rights sales are doubly attractive. When it comes to promoting their foreign editions, because of distance and language barriers, authors are off the hook.

"I had to agree to a film crew coming over for a weekend and making a video about me, and that was it," says Graham of her German publisher's marketing efforts for her first novel. "They spent a lot of money on TV advertising. It was an eye-opener! But I didn't have to do anything else, no blogging, chasing reviews, etc. Very spoiling."

Karen Dionne is the internationally published author of the environmental thrillers Freezing Point and Boiling Point. The co-founder of the online writers community Backspace, she also serves on the board of directors of the International Thriller Writers. Visit Red Room to find out more about her books and to read her blog.

]]>bookBook salesbooksKaren DionneRed_RoomroyaltiesKaren DionneSun, 30 Jan 2011 10:00:00 ESTA World Without Borders: One Author's Fearhttp://www.dailyfinance.com/2011/01/23/if-borders-closes-authors-will-lose/http://www.dailyfinance.com/2011/01/23/if-borders-closes-authors-will-lose/http://www.dailyfinance.com/2011/01/23/if-borders-closes-authors-will-lose/#commentsFiled under: Media, Amazon.com, Barnes & Noble, Books, Small BusinessOwning and operating an independent bookstore has never been easy. Since the rise of the big chains and online booksellers, independent bookstores have been under considerable financial pressure. Almost daily, Shelf Awareness, an industry newsletter for the book trade, reports that yet another independent bookstore has closed.

One of the most recent, the Mystery Bookstore in Los Angeles, has been a fixture of the thriller and mystery community since 1987. In an e-mailed announcement, the owners explained: "We simply cannot compete with the Amazons of the world and the impact of the economy."

Now it's not just independent bookstores that are threatened. In December, Borders Group (BGP) -- the nation's second-largest bookstore chain -- shocked the publishing industry when it announced it was halting payments to publishers and distributors. Reports put the amount owed to publishers at $444.9 million. In response, several publishers and one distributor have stopped further shipments until Borders' financial situation is resolved.

Who Will Be Hurt If Borders Closes?

As severe as Borders' problems are, the possible demise of one sales outlet - even a major one that commands roughly 10% of the bricks-and-mortar retail book market - won't put publishers out of business. Their catalogs comprise many titles, and throughout publishing's constant ebb and flow, the staggering number of copies sold by a handful of mega-bestsellers consistently helps offset any loss.

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The consequences to authors if Borders' 600 retail outlets were to close, however, would be severe. Unlike their publisher, an author's financial fortunes rest on the sales of one, or two or a handful of titles: their own. For authors, Borders' demise isn't just a matter of fewer stores carrying their books.

Aside from Barnes and Noble (BKS), which analysts predict would pick up 18% of the Borders market, most retail book chains carry a fraction of Borders' titles. To put it in numbers, a robust independent bookstore might stock as many as 10,000 titles, while the average Walmart (WMT) typically carries 1,400 to 1,700 titles. By contrast, a Borders' superstore has well over 100,000.

Many of those tens of thousands of titles stocked by Borders are written by midlist authors, the writers who are most reliant on browsing book buyers. Not yet elevated into the the rarefied ranks of authors with instant name recognition, members of the midlist may have a single title in print, or dozens. While their books may be selling briskly to a solid core of devoted fans, most midlisters haven't yet cracked a national bestseller list, which means their names aren't sufficiently recognizable to generate a sale.

Jockeying for Position. . .in Closing Stores

For these authors, the bulk of their sales depend heavily on impulse purchases made in retail outlets. For this reason, authors frequently fret over whether or not their publishers have purchased "co-op," or front-of-store placement for their titles. But the issue becomes moot if the bookstores themselves are no longer there.

Readers can and do judge a book by its cover. A recent survey commissioned by the writers organization Sisters In Crime indicates that bookstore browsing has a significant impact on sales: "'Face out' displays in some kinds of retail stores (Target, Walmart, etc.) cause buyers to be highly influenced by covers," the report noted, pointing out that readers are affected by more than just the cover art. According to the report, "elements such as title, author name, blurbs by other authors, and flap copy" can also prompt a buyer to pick up a book.

One bookstore employee notes that her store will order a title for the customer if the book isn't in stock, and the customer will then receive the copy at home in a few days with no cost for shipping. Even so, the employee admits, 90% of the customers who ask about a title the store doesn't carry decline to order it. According to her, the reason is that customers "like to hold the book in their hands, look it over and read a sample before they buy it."

A Hole in the Community

The demise of a bookstore - any bookstore - is a loss to the community. Visit any bookstore on a midweek morning, and you'll find customers reading the newspaper, working on their laptops, sitting at the community table enjoying a cup of coffee with friends they wouldn't have otherwise met. Bookstores host book groups, bridge clubs, knitting groups and story time for kids.

Bookstores are also where readers and writers connect. The Mystery Bookstore was known for hosting up to three author events a day on weekends. In a Publisher's Weekly story, Steven Jay Schwartz, author of Boulevard and Beat, put the community aspect of the famed bookstore into perspective: "My career began at the Mystery Bookstore," he noted. "I count the owners and booksellers as personal friends. There is a loyal community of authors and readers who will simply not recover from the loss of this iconic bookstore."

I happened to be in a bookstore when my agent called to tell me that we had an offer from Berkley to publish my first novel. Since that day, I've dreamed of having a book-signing in that same Borders bookstore.

Last Saturday, I did. It saddens me greatly to think that it may have been just in time.

Karen Dionneis the internationally published author of the environmental thrillers Freezing Pointand Boiling Point. The co-founder of online writers' community Backspace, she also serves on the board of directors of the International Thriller Writers. Visit Red Roomto find out more about her books and to read her blog.

]]>amazonamazon.comauthorbarnes and noblebarnes nobleBestSellingBooksbookstorebordersborders booksBorders GroupBordersBookswritersKaren DionneSun, 23 Jan 2011 10:00:00 ESTE-Piracy: The High Cost of Stolen Bookshttp://www.dailyfinance.com/2011/01/08/e-piracy-the-high-cost-of-stolen-books/http://www.dailyfinance.com/2011/01/08/e-piracy-the-high-cost-of-stolen-books/http://www.dailyfinance.com/2011/01/08/e-piracy-the-high-cost-of-stolen-books/#commentsFiled under: Technology, Media, Small Business, Economy, PeopleAnalysts estimate that hundreds of thousands of e-readers were given as gifts this holiday season, spurring a massive explosion in the number of e-books that will likely be hopping off virtual shelves. Barnes and Noble reports that the deluge has already begun, as "nearly 1 million e-books were purchased on Christmas Day alone."

In the coming months, many of these new owners will discover websites where e-books can be downloaded for free. While some will gravitate toward legitimate websites like Project Gutenberg, or Google Books, others will use "pirate websites" - file-sharing sites where copyrighted content is made available to readers without the author's permission.
The Cost to Authors

Lost book sales can't be quantified, making it impossible to calculate the full cost of e-piracy, but the sheer number of illegal copies available for download gives an idea of the scope of the problem. At one file-sharing website, users have uploaded 1,830 copies of three books by a popular young adult author. Just one of those copies has had 4,208 downloads. On the same site, 7,130 copies of the late Michael Crichton's novels have been uploaded, and the first 10 copies have been downloaded 15,174 times.

Even if only a fraction of the downloads from this and dozens of other file-sharing websites represent actual lost sales, they still translate into a staggering amount of royalties that have been stolen from authors.

There's another cost to authors besides lost royalties: time. Many file-sharing websites will remove unauthorized material, but only at the instigation of the copyright holder. Multiple copies require multiple takedown requests. And, even after an illegal copy of an author's work has been removed, the book is often simply reposted by another user.
An Uphill Battle

"I put Google Alerts on all my book titles, and that pops some pirated copies," says Julie Kramer, author of the award-winning Riley Spartz mystery series. "When I first started sending them to my publisher a couple years ago, they were outraged. But now it's so widespread, I don't think they can keep up with it."

An executive editor at a major publishing house agrees: "Our legal department has a lawyer on retainer whose job is to slap a cease-and-desist on any site featuring an illegal copy of any of our books," he admitted. "That usually gets it taken down, though it usually pops up again somewhere else. With the growth and spread of e-books, it's clearly going to be an area that we'll need to be watching very closely. What we'll be able to do about it is another question entirely."
Why So Difficult to Control?

One of the biggest problems with literary piracy lies in its decentralized model. As Ian Barker, a novelist and editor at PC Utilities magazine, explains, "Torrent sites are basically nothing more than an index. They don't actually host the files that are available to download. These are on dozens - even hundreds - of different PCs belonging to individuals."

To make things even worse, the files themselves are often distributed across multiple computers: "Torrents work by splitting the file up into pieces and downloading it in sections which are then reassembled on your machine. When you download via a torrent you'll seldom get all of the file from one source; it will come from several locations at once."

Websites offering pirated e-books also evolve quickly to stay ahead of publishers. One advises users: "In order to assure stability for the community, we will be slowly adding alternative/additional ways to access [name of website]. Additional TLD's, (Domain Extensions) IP access, etc. This is to ensure that there could never be interruption to our service."
Getting in the Way of a Great Relationship

Traditionally, authors and readers play on the same team. Authors create content and readers read it in a mutually-beneficial relationship. But e-piracy has put readers and writers at odds by offering content for free. Some authors accept the existence of illegal copies as an unavoidable cost of doing business, but for most, the bottom line truly is the bottom line. Publishing is a business, and authors whose titles don't sell well aren't offered follow-up contracts.

Meanwhile, their existing titles will likely go out of print, further degrading their bottom line. Even if authors dodge that worst-case scenario and continue to publish, there's no doubt the widespread availability of illegal digital copies affects their income.

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This causes a moral crisis for some e-pirates. "I've debated [scanning and uploading] some newer authors and books," one admits, "but I would need to...resolve the moral dilemma of actually causing noticeable financial harm to the author whose work I love."

But most file-sharers see themselves as a community. They believe they offer a useful service, and their hackles go up when authors and publishers take steps to shut their websites down. After one site bowed to pressure and removed their e-books section entirely, hundreds of users bemoaned the loss. One posted a warning: "One word to the Publishers and Authors who created original trouble - Do whatever you want you cannot Stop readers from getting free Ebooks. You people don't stand a chance against [the] entire Internet. As Long as [the] Internet is alive, we readers will continue to share Ebooks."

And authors continue to battle the pirates. Karen Dionne is the internationally published author the environmental thrillers Freezing Point and Boiling Point. Karen is also the cofounder of Backspace, and serves on the board of directors of the International Thriller Writers. Visit Red Room to find out more about her books and to read her blog.

]]>bookbookse-readere-reader softwareE-readerse-readingpiracypiratePiratesRed_RoomKaren DionneSat, 08 Jan 2011 09:00:00 ESTHow E-Books Are Changing the Economics of Writinghttp://www.dailyfinance.com/2010/12/25/e-books-change-economics-of-writing/http://www.dailyfinance.com/2010/12/25/e-books-change-economics-of-writing/http://www.dailyfinance.com/2010/12/25/e-books-change-economics-of-writing/#commentsFiled under: Technology, Media, Amazon.com, Books, iPad, PeopleIn November, The New York Times reported that approximately 9 million electronic reading devices are in use in the U.S. When holiday purchases are tallied, that number will most certainly go up. While there are many different kinds of e-readers, they share one thing in common: They need to be filled with books.

Two years ago, e-books constituted 1% of total book sales, a figure that's now closer to 10%. As electronic media accounts for a larger and larger portion of the book business, consumers are benefiting from lower prices for books, and manufacturers are enjoying massive sales. But how is the e-book revolution affecting authors?

A Boon for Self-Publishers

For an author under contract with a major publisher, not much has changed. Most publishers still insist on acquiring electronic rights along with print at the royalty rate that's been in place for years: 25% of net profits. Amazon (AMZN), on the other hand, offers authors a whopping 70% of net profits for e-books sold in the U.S. Admittedly, the online retailer carries a large number of caveats, most notably that the book must be priced between $2.99 and $9.99. Barnes & Noble (BKS) and Apple (AAPL) offer similar royalty rates.

This raises the question of whether an author can really make money with a book priced so low. J. A. Konrath, author of the traditionally published Jack Daniels mysteries and nearly a dozen self-published e-books, offers an interesting perspective on the numbers behind the e-book/traditional publishing dilemma.

"I have an acquaintance who is a New York Times bestseller," he notes. "She got a great advance. But I'm on track to earn $200,000 this year on e-books alone, and the e-book market is still in its infancy. If she'd kept the rights and self-published her e-book, I bet she would have earned more money in three years on her own than she will with her publisher."

Konrath offers a breakdown: "Her Kindle book is priced at $9.99, which earns her $1.75 per sale. I'm pricing books at $2.99, and making $2.09 per book. Currently, I have seven self-published e-novels earning more than $24,000 a year each. I wish I had more novels that I couldn't sell [to traditional publishers], because I'm making a nice chunk of change with them on Kindle."

Finding Readers

Then again, just because authors can turn their manuscripts into e-books doesn't mean that they'll make money from the new platform. Many inexperienced authors naively upload the contents of their hard drives to e-publishing platforms like Kindle or Smashwords, expecting to make thousands, then wonder why they have no sales. Additionally, unless authors can do the artwork, copy-editing and formatting themselves, they must pay $50 to $200 for each book, with no guarantee of success.

As with print books, quality matters, as does effective marketing, proper formatting and an eye-catching cover. Most of all, the author has to have written something people want to read. Eileen Cruz Coleman is a literary fiction author who has been represented twice by different agents for different novels, but she has yet to see a traditional print sale. With the advent of e-book self-publishing platforms, Coleman decided to publish Rumpel, her dark and quirky retelling of the Rumpelstiltskin fairytale, and let readers decide the story's fate.

"I could have let Rumpel sit on my hard drive and collect dust," Coleman says. "But there is a wonderful community of fairytale-retelling aficionados on the Internet. The more I read about what they were looking for, the more convinced I became that my novel would find an audience, and not just among my friends and family. So far, Rumpel has been well received. I am hopeful that as more people learn about it, the book will gain momentum."

A Question of Distribution

For an author in print, being published by a major publisher ensures that the book will be distributed to bookstores. In some cases, publishers even purchase co-op, or front-of-store placement, for certain titles. In the electronic world, however, distribution is instant, equitable and in some cases, global. Readers rarely take note of a book's publisher. Rather, they make purchases because they like the author's work, or because they've heard about the book through the author's marketing efforts or from another reader.

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Traditional publishers do more than simply print and distribute books, of course. They send out review copies, purchase advertising and promote their titles to booksellers and librarians. They ensure that books are line edited, copy-edited, typeset and furnished with an attractive cover, all at no cost to the author. But for a self-published digital edition, these jobs can easily be outsourced.

"The real issue for authors and e-books will be marketing," says literary agent Jeff Kleinman, of Folio Literary Management. "How to market an e-book, how to get the book noticed, how to make an e-book rise to the front page of Amazon, how to connect with readers, how to sign digital copies -- these are the questions that are going to need answers in the expanding digital market."

Meanwhile, given the success of authors like Konrath, more and more traditionally published authors are considering self-publishing e-books. It's a brave new e-world for authors. Exciting. Empowering. Electronic.

Karen Dionne is the internationally published author of Boiling Point, an environmental thriller that will release in print and as an e-book on December 28. Karen is the cofounder of Backspace, and serves on the board of directors of the International Thriller Writers. Visit Red Room to find out more about her books and to read her blog.

]]>e-booke-booksE-bookSalesE-bookStoree-readerE-readersipadkindlekindle 2kindle 2.0kindle 2.5kindle 3kindle dxKindle2Kindle2.0nookRed_RoomKaren DionneSat, 25 Dec 2010 14:00:00 ESTListening to Literature: An Author Talks About Audiobookshttp://www.dailyfinance.com/2010/12/19/author-talks-about-audiobooks/http://www.dailyfinance.com/2010/12/19/author-talks-about-audiobooks/http://www.dailyfinance.com/2010/12/19/author-talks-about-audiobooks/#commentsFiled under: Technology, Media, Books, PeopleAudiobooks are flourishing. The Audio Publishers Association reports that in 2009, consumers and libraries spent close to $1 billion on audiobooks. According to the association, "Audiobook listeners are affluent, well-educated, and avid" book readers. For that matter, they are also more voracious than nonlisteners: "Frequent listeners of audiobooks. . .read a median of 15 books in the past year, compared to six books read by people who don't listen to audiobooks," reports a 2010 APA consumer survey.

I asked several bestselling thriller authors how their audio sales compare to print. Answers ranged from, "I'm not quite sure," to "I would guess it's fairly small," to "I don't have a clue. I suppose somewhere there is a royalty statement with that information, but it's deep in one of the piles of boxes from the big move this summer."

One of the few authors willing to venture a guess was Glenn Cooper, a thriller author with whom I share an audiobooks narrator: "I'd say that audio revenues are a de minimus portion of my publishing revenues, certainly less than 1%."

The Value of Audiobooks

If the percentage of audiobook sales in relation to print is so low, what's the advantage to an author of having his or her books in audio? "For me, audiobooks serve as teasers, or introductions to the series," explains Lee Child, #1 New York Times bestselling thriller author of the Jack Reacher series. "Many of my readers tell me they started with audio."

Personally, I "started" in audio a year after my debut novel came out in print. Freezing Point sold to Audible.com as part of their "Breakout Thrillers" program - a partnership with the International Thriller Writers in which bestselling authors recommend newer ones. My agency was able to broker the deal because we kept audio rights at the time of the initial print sale.

"Since publishers aren't yet certain what role audio will play in digital books," says Molly Jaffa, the audio rights agent at Folio Literary Management, "they're looking to buy and handle those rights themselves, as part of the initial book contract. But when we retain audio for our clients, the advances typically range from $1,000-$15,000. They can go even higher if the audio rights are sold at auction."

Inside the Booth: Collaborating with a Narrator

The quality of an audiobook truly hinges on its narrator. The best narrators use their voice talents and training to deliver the feeling behind the author's intent. "I always like to have a conversation with the author if at all possible before I go in to record," says my audiobook narrator, Mark Boyett. "Often there are pronunciations to confirm, but I also like to give the author a chance to talk about his or her novel and express anything they'd like me to communicate as I narrate their book. After all, people are downloading the book to experience the author's work first and foremost, so my work needs to serve that end."

Still, an audiobook reading really is a performance, like a one-man play, and many audiobook narrators gain a loyal following. Listeners frequently make purchases not because they're a fan of the author, but because they love the narrator's work.

Boyett notes that he works to translate the excitement and flow of a story: "As I prepare the book, I'll make margin notes, sometimes about the mood of a scene, or the subtext of a character. Or I'll score sections with little notations that only make sense to me to remind myself to link up these words, or drive through this part, or make this paragraph start as a fresh new thought rather than a continuation of the previous one, and so on."

Charting a Course Through the Characters

Boyett has also developed techniques that make it easier for him to make the book come alive: "Colored markers are also important. In scenes where there are multiple characters, I assign each character a color and then dot each line they speak, so I can read right through, changing the voices as needed, without having to stop and figure out who's talking when. Luckily, in the event that a narrator needs a reminder about the voice he's using for a particular character, the engineer can go back and replay earlier clips as a refresher."

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With that level of professionalism and attention to detail, us it any wonder I was delighted with the result? The emotion my narrator conveys through his voice adds a whole new dimension to my written words.

It's been nine months since Freezing Point published in audio, and unlike the bestsellers quoted at the beginning of this piece, I do have the percentage of my audiobook sales to print at hand: 5.5%. During that time, I received not just one, but two royalty checks, and Audible purchased the rights to my next environmental thriller.

On Dec. 28, the print and audio versions of Boiling Point will publish simultaneously. Because Boiling Point brings back two characters from Freezing Point, Mark Boyett will also narrate the new audiobook. I can't wait to get my hands on a copy - figuratively speaking - and enjoy what will undoubtedly be another outstanding "recorded listening experience."

Karen Dionne is the internationally published author the environmental thrillers Freezing Point and Boiling Point. Karen is also the cofounder of Backspace, and serves on the board of directors of the International Thriller Writers. Visit Red Room to find out more about her books and to read her blog.